How Chinese ‘shell companies’ have been siphoning money from India. ED raids on Vivo, Oppo & Xiaomi

Chinese ‘shell companies’ are allegedly siphoning off money from India to China and avoiding paying tax. 2 of the largest selling mobile phone companies, Vivo and Oppo, haven’t paid any taxes in India despite selling phones worth millions of dollars. The ED claims they have been siphoning off money from India to China. What’s the story?
#vivoedraid #xiaomitaxevasion #oppo

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Sources:

India Today
Kingpin of Vivo Scam fled India: Sources; July 7, 2022
Xiaomi vs Indian government: What is happening?; May 4, 2022
Indians bought smartphones worth Rs 2,83,666 crores in 2021; January 31, 2022

Fortune India
Delhi HC unfreezes Vivo bank accounts with riders; July 13, 2022

CNNNews 18
Vivo Scam Ex-Director Fled India Bin Lou Exposed as Mastermind?
   • Vivo Scam | Ex-Director Fled India | ...  

IDC
China’s Smartphone market grew 1.1% in 2021; January 28, 2022

The Economic Times
I am a Chinese, not a Terrorist: Huawei India CEO to Court; August 13, 2022
14 Cos ‘Linked to Vivo Get Nod to Operate Bank A/cs; August 9, 2022
Vivo refutes charges of money laundering, financial terrorism; July 29, 2022
Decide fast on Huawei CEO plea: Delhi HC to trial court ; July 28, 2022
Huawei India Chief’s conduct showed he was a flight risk: IT department; July 26, 2022
Vivo ‘laundering’ an attempt to threaten integrity, sovereignty of nation: ED; July 25, 2022
Xiaomi accuses ED of ‘physical violence’ threats during forex probe, agency calls charges baseless; May 6, 2022
Vivo tax payment: ED raids 40 Vivo locations, 465 cr seized from 119 bank accounts; May 4, 2022
Oppo FY20 net loss widened over 2 times to Rs 2,203 crore, largest since it entered India; March 3, 2021
Xiaomi India clocks lowest sales growth but swings to profit; February 7, 2021

Live Mint
The mobile phone sector has lessons for India's economy; January 20, 2022
Jaishankar meets Chinese Foreign minister Wang Yi in Bali; July 8, 2022
China responds to raids on vivo by indian government agency; July 6, 2022

Dainik Jagran
Meerut: Phir se khula Vivo Mobile company ka mukadma; July 2, 2021

Indian Express
More than 13,500 Vivo phones running on same IMEI, Meerut police files case; June 5, 2020

Bloomberg
India Probes ZTE, Vivo as More China Firms Under Scrutiny; May 30, 2022

The New Indian Express
Top Vivo executives may have fled India amid ED's money laundering probe; July 7, 2022

Live Law
Vivo vs Ed; July 13, 2022

Business Standard
Vivo India transferred Rs 62,476 crore to China to avoid paying taxes: ED; July 8, 2022
At $76.6 bn, India's military spending third highest in world: SIPRI report; April 25, 2022
Vivo India sees revenue grow over 45% to Rs 25,060 crore in FY20; March 10, 2021
Vivos mobile business surges on IPL craze; July 18, 2016

The Hindu
Vivo remitted almost 50% of turnover to China to avoid getting taxed in India; July 7, 2022
Pushing India to surpass China in mobile manufacturing: Ravi Shankar Prasad; December 14, 2020

Business World
Vivo Mobile Money Laundering Case Companies Who Operate in India Need To Follow Law of the Land Says MEA; July 7, 2022

Reuters
India says China's Oppo evaded $551 mln in import tax; July 13, 2022
India asks Xiaoi to pay $ 88 mln in import taxes it found it evaded; January 5, 2022

Financial Times
India escalates crackdown on Chinese phone makers; July 17, 2022

Hindustan Times
Oppo responds to Indian Govt accusation of tax evasion; July 15, 2022

TechRadar
Over 13,000 Vivo phones found to be using same IMEI number; Jitendra Soni; June 17, 2022